How To Fix FINS_REV_REC077 - Please resolve the &1 log entries up to period &2 before execution

FINS_REV_REC077 - Overview

• Message type: E = Error

• Message class: FINS_REV_REC - Event Based revenue recognition

• Message number: 077

• Message text: Please resolve the &1 log entries up to period &2 before execution

What causes this issue?

In case of an error in revenue recognition calculation during real-time
processing of a reference document, the journal entry for the reference
document will be created but not the subsequent revenue recognition
document. Instead, an entry is added to the log. This enables the
revenue recognition part to be processed later.
When the revenue recognition part is then processed, the revenue
recognition document for the journal entry for the reference document
will be created.
Before you start the closing run, you need to resolve the logged issues
up to the cited period. Each log entry represents a reference document.
If you prefer to do a minimal re-execution instead of resolving the
issues, revenue recognition will attempt to calculate as much as
possible and omit those parts which cannot be calculated. However, there
is a minimum scope which must be calculated. The omitted parts are
captured by the period end closing run in the following way: The run
will do a complete re-evaluation. Thus<(>,<)> the calculated revenue
recognition values will be correct as a total, but for the quoted
reference documents there will be no linked revenue recognition
document.
<ZH>Note:</>
If the erroneous situations which generated the log entries are still in
effect, revenue recognition of the affected objects will not work
properly in the closing run.

System Response

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

How to fix this error?

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.

FINS_REV_REC077 - Details

• The SAP error message FINS_REV_REC077 typically occurs in the context of revenue recognition processes, particularly when dealing with the recognition of revenue in financial accounting. This error indicates that there are log entries that need to be resolved before you can proceed with the execution of a particular transaction or process.
  
  Cause:
  The error message is triggered when there are unresolved log entries related to revenue recognition for a specific period. This can happen due to various reasons, such as:
  
  Incomplete Data: There may be incomplete or incorrect data in the revenue recognition logs that need to be addressed.
  Pending Transactions: There could be pending transactions that have not been processed or cleared.
  
  Configuration Issues: There might be configuration issues in the revenue recognition settings that need to be corrected.
  Period Closure: The period you are trying to execute may not be closed properly, leading to unresolved entries.
  
  
  Solution:
  To resolve the error, you can follow these steps:
  
  
  Check